Stephanies First 100 Days As Ceo Of Innostat Business Essay

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Stephanies First 100 Days As Ceo Of Innostat Business Essay

Stephanie joined Innostat as the CEO after the death of the legendary Jack Donally The company is at a turning point growing in the prosthetic limb and surgical implant industry through Jacks innovations the companys margins have shrunk as competitors have found ways around Innostats patents Stephanie is faced with the challenge of determine how to guide the company despite the complicated environment she is entering

Background

Innostat has not launched any major new products for the past four years something it needs to do to survive Jack Donally the former CEO did not trust his employees to innovate and instead looked outside the company for new ideas One consequence was that while Innostat developed excellent manufacturing and sales teams the RD and marketing departments atrophied Therefore other parts of the company do not trust RD and marketing to accurately determine the market potential of new products Upon Jacks retirement the Board hired Stephanie as the new CEO Her strong technical background was the basis of her selection and enables her to generate new product ideas Stephanie must balance what she feels is best for the organization with the companys culture and vision

Culture

Innostat has a topdown centralized management and a formal functional structure Exhibit 1 Formerly every significant step the company took went through Jack Donally The senior management in Innostat played a supporting role to Jack rather than developing their own initiatives creating a culture that focused primarily on promoting implementation rather than innovation as Frank Timoshotsky noted in his conversation with Stephanie The fact that the departments are concerned about meeting their quotas and fixated on shortterm results is due to a lack of a broader company strategy the role Jack played in the company and a corporate structure that does not encourage or reward innovative thinking As is common amongst organizations with functional structures Innostat has faced challenges facilitating communication across departments and competing goals

Stephanies First 100 Days

In her first 100 days in office Stephanie must take the time to learn as much as she can about the organization and work to develop her referent power At the same time she needs to begin planting the seeds for the changes she will look to implement over time This will involve efforts on many different fronts See Exhibit 2 for the short term organizational changes

Research Development

Short term Stephanie will be heavily involved in RD and the department will report directly to her This will allow her to develop new ideas while including the department in the process and helping them develop their creativity This will also help the department gain credibility amongst the other departments Stephanie will spend time with department head Chuck Bukowski to ensure that Chuck accepts the increased role his division will play

Marketing

One of the big concerns Stephanie has is Jim Pappas head of marketing who is a highlevel employee who does not fit into her longterm vision As firing a highlevel employee seems risky at this time Stephanie will allow Jim to maintain his position while concurrently creating a strategic submarketing team Such a team is crucial as the company changes focus from simply creating products to react to market needs anticipate future trends and identify emerging markets The two parts of the marketing departments will communicate on issues of marketing but Jim will remain the primary wineanddine marketer while the strategic team will determine the best approaches to marketing

Improving Communication

Stephanie recognizes that while a full reorganization might be optimal it is impossible in the shortterm Stephanie does not have the referent power to force the change and the culture in the organization indicates that many employees are not capable of increased responsibility in decisionmaking Innostat will bring on full time integ

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